v3.21.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended 12 Months Ended
Jun. 12, 2021
Jun. 11, 2021
Jul. 31, 2021
Jul. 31, 2021
Apr. 30, 2021
Jul. 31, 2020
Apr. 30, 2020
Jun. 11, 2021
Jul. 31, 2021
Jul. 31, 2020
Jan. 31, 2021
Jan. 31, 2020
Cash flows from operating activities:                        
Financial Designation, Predecessor and Successor [Fixed List] Successor Predecessor Successor Successor Predecessor Predecessor Predecessor Predecessor Successor Predecessor Predecessor Predecessor
Net loss     $ (37,535)         $ (49,264)   $ (504,883)    
Adjustments to reconcile net loss to net cash provided by operating activities:                        
Share-based compensation     4,817                  
Depreciation     1,705         3,572   5,120    
Amortization of intangible assets   $ 15,959 20,023     $ 12,779   50,902   30,148    
Change in bad debt reserve     (170)         (174)   19    
Provision for (benefit from) income taxes - non-cash     (6,180)         (5,886)   (11,478)    
Non-cash interest expense     434         487   2,829    
Impairment of goodwill and intangible assets                   332,376    
Right-of-use assets amortizations     1,445         748   1,435    
Fair Value Adjustment of Warrants   (800) (17,115)         (900)        
Non-cash reorganization items, net                   4,818    
Changes in current assets and liabilities:                        
Accounts receivable     6,963         88,622   93,124    
Prepaid expenses and other assets     (13,065)         3,379   (9,265)    
Accounts payable     5,175         (6,417)   (5,520)    
Accrued expenses and non-current liabilities     18,026         (18,592)   159,565    
Lease liability     (1,690)         (1,301)   (1,942)    
Deferred revenue     17,905         (31,365)   (84,773)    
Net cash provided by operating activities     738         33,811   11,573    
Cash flows from investing activities:                        
Purchases of property and equipment     (75)         (641)   (2,985)    
Internal use software development costs     (881)         (2,350)   (3,401)    
Acquisition of Skillsoft, net of cash received     (386,035)                  
Acquisition of Global Knowledge, net of cash received     (156,926)                  
Acquisition of Pluma, net of cash received     (18,646)                  
Net cash used in investing activities     (562,563)         (2,991)   (6,386)    
Cash flows from financing activities:                        
Borrowings under revolving line of credit, net of repayments                   19,500    
Borrowings under DIP Facility                   60,000    
Proceeds from issuance of Term Loan, net of fees     464,290                  
Proceeds from equity investment (PIPE)     530,000                  
Principal repayments of capital lease obligations     (137)         (370)   (430)    
Repayments of accounts receivable facility, net of borrowings     (9,456)             (19,270)    
Repayments of accounts receivable facility, net of borrowings               16,577        
Repayments of First and Second Out loans     (605,591)         (1,300)        
Net cash provided by financing activities     379,106         14,907   59,800    
Effect of exchange rate changes on cash and cash equivalents     (250)         203   (2,264)    
Net (decrease) increase in cash, cash equivalents and restricted cash     (182,969)         45,930   62,723    
Cash, cash equivalents and restricted cash, beginning of period $ 120,373   120,373 $ 288,483 $ 74,443   $ 33,804 74,443 $ 74,443 33,804 $ 33,804  
Cash, cash equivalents and restricted cash, end of period 288,483 120,373 105,514 105,514   96,527   120,373 105,514 96,527 74,443 $ 33,804
Supplemental disclosure of cash flow information:                        
Cash and cash equivalents   117,299 90,772 90,772   61,139   117,299 90,772 61,139 71,479  
Restricted cash   3,074 14,742 14,742   35,388   3,074 14,742 35,388    
Cash, cash equivalents and restricted cash, end of period $ 288,483 $ 120,373 $ 105,514 105,514   $ 96,527   120,373 $ 105,514 96,527 $ 74,443 $ 33,804
Supplemental disclosure of cash flow information and non-cash investing and financing activities:                        
Cash paid for interest       5,030       16,439        
Cash paid for income taxes, net of refunds       272       1,161   1,598    
Unpaid capital expenditures       335       $ 39   829    
Note issued to parent entity for paid in kind interest                   160,000    
Lease liabilities arising from right-of-use assets and tenant improvements recognized upon adoption of new accounting standard                   $ (19,415)    
Share issued in connection with business combinations       306,375                
PIPE subscription liability and warrants reclassified to equity       134,286                
Debt issued in connection with business combinations       90,000                
Warrants issued in connection with business combinations       $ 14,000                

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